The Fed Appoints Three New Drones. Hooray

On Bloomberg, Jim Grant is asked how he feels about the three yes-men about to be appointed to the Fed. Most guests would offer a few empty statements about the great qualifications of our new overlords. Grant, on the other hand, gives a reply that only a few people in the world would give — namely, what the heck does it matter? What will change with the addition of these people? Absolutely nothing, as usual. So why pretend to care, or that any of it makes any difference? (Thanks to Bob Murphy.)